What Does Fair Credit Reporting Act Mean?

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What does Fair Credit Reporting Act mean? Read on to discover the definition & meaning of the term Fair Credit Reporting Act - to help you better understand the language used in insurance policies.

Fair Credit Reporting Act

Fair Credit Reporting Act

An act requiring that an applicant be informed in advance if an inspection/consumer report may be ordered. If insurance is declined due to information contained in that report, the applicant has the right to ask the inspection company about the information it obtained.

We hope the you have a better understanding of the meaning of Fair Credit Reporting Act.

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